Woodside
acquires interest in 21 Gulf of Mexico blocks
Posted: 22 March 2004
Woodside Energy Ltd announced today that it was the successful
bidder in 21 Outer Continental Shelf blocks in the Gulf of Mexico
Central Lease Sale 190. The sale was conducted in New Orleans on
17 March 2004 by the Minerals Management Service (MMS), a bureau
of the US Department of the Interior.
The final results of the sale are expected within a few months,
following bid evaluation and approval by the MMS.
Woodside bid, with partners, on 24 blocks of which 4 are on the
Louisiana shelf and 20 are in the deepwater. If all 21 high bids
are approved the net cost to Woodside will be US$4.2 million.
Woodside has focused on the Gulf of Mexico as a key area of growth
for its international exploration and production activities since
1999. The company’s business plan for the Gulf of Mexico sees
participation in lease sales as a key element to asset and portfolio
growth.
If all the high bids are approved by the MMS, it will bring the
total Woodside holding in the Gulf of Mexico to 150 blocks, of which
52 will be on the shelf and 98 in the deepwater.
Woodside participated in Central Lease Sale 190 with bidding partners
Marathon Oil Company in Mississippi Canyon, ConocoPhillips Company
in Green Canyon and Pioneer Natural Resources USA, Inc. on the Shelf.
Woodside will have a working interest of between 45 per cent and
50 per cent in each block.
For more information see www.woodside.com.au
Posted by Richard Price,
Editor Pipeline Magazine
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